China trims holdings of US securities in February
China trims holdings of US securities for fourth straight month; Japan boosts its holdings
, On Friday April 15, 2011, 10:07 am EDT
WASHINGTON (AP) -- China, the biggest buyer of U.S. Treasury securities, trimmed its holdings for a fourth straight month in February and Japan boosted its holdings one month before a devastating earthquake hit the country.China cut its holdings by $600 million to $1.15 trillion, the Treasury Department reported Friday. Japan, the second-largest foreign holder, boosted its holdings by $4.4 billion to $890.3 billion. There have been concerns that the March earthquake and tsunami may cause Japan to scale back its purchases in order to use the money for reconstruction.
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Comment: It's easy to solve the equation: China does not want it anymore, Japan can't anymore. Conclusion: a global sell-off of US assets. Better don't wait until it is too late.
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